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Jan 22, 2013 10:00pm PST
and then bet against it? you think they know that? >> the nature of the principal business and market making... >> lloyd blankfein argued it was perfectly okay, that at the same time we were selling securities to you, we were betting on the fact these securities were going to go down. "but that's okay 'cause we're a market-maker and we're allowed to do that." that sounds like fraud to me. in the first half of 2007, goldman sachs sold long-position cdos to its clients, right? >> we sold... we reduced our risk. >> so you were selling cdos at the same time you were taking short positions on the same cdos? >> the best way of reducing your risk is to sell what you have. >> i believe in a free market, but if it's gonna be truly free, it cannot be designed for just a few people. it must be free of deception, it's got to be free of conflicts of interest, it needs a cop on the beat, and it's got to get back on wall street. we stand adjourned. >> narrator: senator levin referred his committee's findings to justice, but again, the department declined to bring any criminal charges. >> no one going to ja
Search Results 0 to 3 of about 4 (some duplicates have been removed)